Only the money that one can afford to lose should be invested in the stock market, according to papal banker Angelo Caloia.
President of the Vatican Institute for the Works of Religion, commonly known as the Vatican Bank, Caloia was speaking in an interview with the Italian Catholic magazine "Famiglia Cristiana".
Sooner or later, he warned, the day will come when stock market abuses will come back to haunt us. He criticised 'hyperliberal economists' that are always promising 'fat returns'.
Among the tips he offered to families was a that 'no one should offer more if there is a greater risk at stake; when one wants to make too much, the possibility of loosing that capital also exists'.
Nevertheless, Caloia explains that his statement is not a condemnation of the stock market, and not even a lack of faith in it.
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10/2/00